New GST Rates September 22: This time the government has given great relief to the general public by cutting GST. From September 22, many items will become cheap, after which the burden on people's pockets will be reduced. This includes everyday accessories like oil, shampoo, soap to medicines. It is worth noting that in the 56th meeting of the GST Council held on 3 September, tax rates were changed on more than 400 goods. This decision will make many products like packed food, soap, shampoo cheap and will provide relief to the public.
Let us know that the old stock kept in the shops already will not be sold immediately at a new price, because it takes time to change the packing and printed price. For this reason, the government has directed that the shopkeepers should give complete information about the new rates to the customers despite the old stock and provide the goods at the right price. The government has instructed all companies and shopkeepers to put a list of new rates on their advertisements and shops before 22 September, so that the customers can clearly know which goods have reduced. Drug shops have been asked to show the new price of medicines on which GST has been reduced. This is important because the old price is printed on old medicines and if the medicine is sold at the same price, then the customer will not be able to avail the GST exemption given by the government.
The Finance Ministry on Tuesday described a big decision regarding the new GST rates. Now from September 22, only 5% GST will be charged on hotel rooms with Rs 7,500 per day or less. The hotel owners giving such room will not be able to claim input tax credit. Earlier it was being said that if the hotel owner claims ITC on rooms less than Rs 7,500, then he can charge 18% GST. But the government has now made it clear that there is no such option. That is, it is now certain that only 5% GST will be imposed on hotel rooms with Rs 7,500 or less, which will make the hotel to be cheaper than before.
